Vietnam’s consumer price index (CPI) in April soared 3.32 percent against last month, making it the highest month-on-month increase since 1991.

The General Statistics Office report, released yesterday, said the rise exceeded that of the April 2008 high of 2.2 percent, which was blamed on the global economic crisis.

The inflation rate in the first four months of 2011 soared 9.64 percent higher than the yearly target of 7 percent.

The office director Nguyen Duc Thang attributed the April increase to the price hike of essential goods such as food, foodstuffs and petrol.

"Political uncertainties in North Africa and the Middle East, as well earthquakes and the nuclear crisis in Japan, have caused commodity prices to soar worldwide. Vietnam is not immune," he said.

He added that the biggest force behind the rise had been the petrol price hikes on February 24 and March 29, and the higher cost of power price since March.

Economists attributed that the uncertainties of foreign exchanges, although were slowing down, still bothered when it resulted to a high cost for domestic enterprises to import goods and materials.

All 11 commodities groups used to calculate the CPI saw an increase this month. Transport prices continued to rise in the second month, surging 6.04 per cent due to a hike in petrol price. Meanwhile the cost of food soared 5.61 per cent.

The cost of eating out and restaurant services rose 4.5 per cent, while foodstuffs rose 2.47 per cent.

Letters that do not contain full contact information cannot be published.Letters become the property of AseanAffairs and may be republished in any format.They typically run 150 words or less and may be edited

orsubmit your comment in the box below

Name

Email

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.

ASEAN ANALYSISThis year in Thailand-what next?AseanAffairs04 January 2011By David Swartzentruber

It is commonplace in
journalism to write two types of articles at the transition point
between the year that has passed and the New Year.
As this writer qualifies as an “old hand” in observing Thailand with a
track record dating back 14 years, it is time take a shot at what may
unfold in Thailand in 2011.

The first issue that can’t
be answered is the health of Thailand’s beloved King Bhumibol, who is
now 83 years old. He is the world's longest reigning monarch, but
elaborate birthday celebrations in December failed to mask concern over
his health.
More